“Making a Will won’t kill you but it will give you peace of mind.”
The Intestacy Rules
If you die without making a Will, the intestacy rules stipulate who will inherit your estate. Depending on your family circumstances, the rules dictate who is entitled to benefit and how much they might receive. You will have no control. The person or people you might want to benefit might not receive as much as you would have liked; someone you hardly know might receive more than they (or you) could have dreamt of.
Making a Will
Making a Will is not frightening and need not be difficult or complicated. It is essential, though, if you want to ensure that your assets pass to individuals (or charities) that you choose; if you want to be assured that you have made adequate provision for those you care about.
Making a Will can also be used
- To choose the people who will carry out your wishes, your Executors and Trustees
- To appoint guardians if you have infant children
- To state your wishes about the disposal of your body and whether you would want it to be used for medical research or transplant purposes
- To plan for the impact of inheritance tax or other taxes.
Throughout life, circumstances change. Having made a Will, it is important to review it regularly to ensure that it still reflects your wishes. If your family, personal or financial circumstances change, then your Will might need changing too.